Artemis Investment Management LLP Has $36.29 Million Stock Holdings in Palomar Holdings, Inc. (NASDAQ:PLMR)

Artemis Investment Management LLP lifted its position in shares of Palomar Holdings, Inc. (NASDAQ:PLMR) by 12.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 383,276 shares of the company’s stock after buying an additional 43,812 shares during the quarter. Artemis Investment Management LLP owned about 1.53% of Palomar worth $36,285,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Janney Montgomery Scott LLC acquired a new stake in Palomar in the 1st quarter worth about $602,000. Picton Mahoney Asset Management raised its position in shares of Palomar by 1,940.6% in the first quarter. Picton Mahoney Asset Management now owns 39,690 shares of the company’s stock valued at $3,329,000 after buying an additional 37,745 shares in the last quarter. Quadrature Capital Ltd boosted its stake in shares of Palomar by 155.9% in the first quarter. Quadrature Capital Ltd now owns 22,773 shares of the company’s stock valued at $1,906,000 after buying an additional 13,873 shares during the period. Driehaus Capital Management LLC grew its position in Palomar by 17.1% during the second quarter. Driehaus Capital Management LLC now owns 300,213 shares of the company’s stock worth $24,362,000 after buying an additional 43,841 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Palomar by 1,634.6% during the 2nd quarter. Victory Capital Management Inc. now owns 177,678 shares of the company’s stock worth $14,419,000 after acquiring an additional 167,435 shares during the period. Institutional investors own 90.25% of the company’s stock.

Palomar Stock Performance

Shares of PLMR opened at $96.51 on Wednesday. Palomar Holdings, Inc. has a 52 week low of $48.08 and a 52 week high of $103.40. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 27.73 and a beta of 0.33. The stock has a fifty day moving average of $95.00 and a 200-day moving average of $87.14.

Palomar (NASDAQ:PLMR) last posted its earnings results on Monday, August 5th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.09 by $0.16. Palomar had a net margin of 21.63% and a return on equity of 20.83%. The business had revenue of $123.08 million for the quarter, compared to the consensus estimate of $338.74 million. During the same period last year, the company earned $0.72 EPS. The firm’s revenue was up 47.0% compared to the same quarter last year. As a group, equities analysts forecast that Palomar Holdings, Inc. will post 4.37 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on PLMR shares. Truist Financial increased their target price on Palomar from $100.00 to $112.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Evercore ISI raised their target price on shares of Palomar from $90.00 to $99.00 and gave the company an “in-line” rating in a report on Tuesday, August 6th. Piper Sandler upped their price target on shares of Palomar from $99.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price objective on shares of Palomar from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods raised their target price on Palomar from $96.00 to $113.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $101.33.

Insider Transactions at Palomar

In related news, CEO Mac Armstrong sold 12,773 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $88.19, for a total value of $1,126,450.87. Following the sale, the chief executive officer now directly owns 59,309 shares in the company, valued at $5,230,460.71. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Palomar news, President Jon Christianson sold 10,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $94.40, for a total transaction of $944,000.00. Following the transaction, the president now directly owns 51,926 shares in the company, valued at approximately $4,901,814.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mac Armstrong sold 12,773 shares of Palomar stock in a transaction on Monday, July 15th. The shares were sold at an average price of $88.19, for a total transaction of $1,126,450.87. Following the completion of the sale, the chief executive officer now owns 59,309 shares of the company’s stock, valued at $5,230,460.71. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,500 shares of company stock worth $4,464,266. Company insiders own 4.30% of the company’s stock.

About Palomar

Palomar Holdings, Inc, a specialty insurance company, provides property and casualty insurance to residential and businesses in the United States. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, fronting, commercial all risk, specialty homeowners, inland marine, Hawaii hurricane, and residential flood, as well as other products, such as assumed reinsurance.